REGISTERED NUMBER: 00616273 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

FOR

WARCOOMBE INVESTMENT CO. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Dent

T D Warner

REGISTERED OFFICE:

12 Braeside Avenue

London

SW19 3PT

REGISTERED NUMBER:

00616273 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

2,400,000

3,100,000

2,400,000

3,100,000

CURRENT ASSETS

Debtors

6

6,610

33,584

Cash at bank

1,100

14,003

7,710

47,587

CREDITORS

Amounts falling due within one year

7

140,801

215,837

NET CURRENT LIABILITIES

(133,091

)

(168,250

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,266,909

2,931,750

PROVISIONS FOR LIABILITIES

8

496,160

596,160

NET ASSETS

1,770,749

2,335,590

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

79,732

79,732

Fair value reserve

9

1,301,700

1,901,700

Retained earnings

389,217

354,058

1,770,749

2,335,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:

I Dent - Director

1.	STATUTORY INFORMATION

Warcoombe Investment Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation

of certain financial assets and liabilities and investment properties measured at fair value through profit

or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied

and services rendered, net of discounts and Value Added Tax.

Revenue from services is recognised when the service is provided and the right to consideration earned. To the extent that a service is provided to third parties but no billing made, the amount is recognised as revenue and recorded as accrued income. Billings made in advance of services being provided are recognise as deferred income.

Tangible fixed assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated

depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation

less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other

comprehensive income and accumulated in capital and reserves, except to the extent it reverses a

revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the

carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to

the extent of any previously recognised revaluation increase accumulated in capital and reserves in

respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains

accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or

loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Fixed asset investments are measure at fair value, with changes in fair value recognised in profit or loss.

Cash at bank is measured at transaction price.

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over the useful economic life of that asset as follows:

Fittings fixtures and equipment - 15% reducing balance

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2023

and 5 April 2024

137

DEPRECIATION

At 6 April 2023

and 5 April 2024

137

NET BOOK VALUE

At 5 April 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2023

3,100,000

Revaluations

(700,000

)

At 5 April 2024

2,400,000

NET BOOK VALUE

At 5 April 2024

2,400,000

At 5 April 2023

3,100,000

Fair value at 5 April 2024 is represented by:

£

Valuation in 2021

590,680

Valuation in 2022

1,947,806

Valuation in 2023

561,514

Valuation in 2024

(700,000

)

2,400,000

The investment properties were revalued by Bells Chartered Surveyors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

549

549

Other debtors

6,061

33,035

6,610

33,584

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

8,264

8,537

Other creditors

132,537

207,300

140,801

215,837

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

496,160

596,160

Deferred

tax

£

Balance at 6 April 2023

596,160

Provided during year

(100,000

)

Balance at 5 April 2024

496,160

9.

RESERVES

Fair

value

reserve

£

At 6 April 2023

1,901,700

Fair value transfer

(600,000

)

At 5 April 2024

1,301,700

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed MrT Warner £1,440 (2023: £nil). This balance is unsecured and have no repayment terms.

At the balance sheet date the company owed Ms I Dent £8,559 (2023: £nil). This balance is unsecured and have no repayment terms.

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £111,228 (2023: £196,313) to a related party. The balance is unsecured, bears no interest and has no repayment terms.